US - Jacksonville, FL
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present The Marquee (the “Property”), a newly constructed, 36-unit apartment complex with 2,667 square feet of fully-leased ground-floor commercial space in the sought-after Northern Liberties submarket of Philadelphia.
Completed in 2022, The Marquee consists of 5 studio, 21 one-bedroom, and 10 two-bedroom units averaging 724 square feet. All 36 units feature luxury finishes and are complimented by a state-of-the-art amenity package that is highlighted by an expansive rooftop terrace, courtyard with grilling stations, and community lounge.
The Marquee is completing its lease up and approaching stabilization with rents that are $150 below market. As currently positioned, the Property’s average in-place rent of $1,833 ($2.53 PSF) trails the market by more than 10%, allowing new ownership to reposition the asset among its competitive set and recapture significant loss-to-lease.
This coveted offering allows an investor to take full advantage of a cash-flowing, luxury asset that is being offered below replacement costs with significant rental upside as the Property approaches stabilization.
Compelling Rental Upside
Full 10-Year Tax Abatement
Luxury Construction Below Replacement Cost